IDI, Inc. (IDI) Sees Large Decline in Short Interest
IDI, Inc. (NYSE:IDI) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 860,141 shares, a drop of 1.4% from the August 31st total of 872,457 shares. Based on an average daily volume of 245,895 shares, the days-to-cover ratio is currently 3.5 days.
Shares of IDI (NYSE:IDI) opened at 5.02 on Friday. The company has a 50 day moving average price of $5.19 and a 200-day moving average price of $5.10. IDI has a 52-week low of $3.78 and a 52-week high of $10.71. The firm’s market cap is $254.30 million.
IDI (NYSE:IDI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.02. The business had revenue of $41 million for the quarter, compared to analyst estimates of $1 million. On average, analysts expect that IDI will post ($0.51) earnings per share for the current fiscal year.
In other news, insider Michael Brauser purchased 5,700 shares of the company’s stock in a transaction on Friday, August 19th. The shares were purchased at an average price of $4.78 per share, with a total value of $27,246.00. Following the purchase, the insider now directly owns 121,734 shares of the company’s stock, valued at approximately $581,888.52. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of hedge funds have recently modified their holdings of IDI. Teachers Advisors Inc. purchased a new stake in shares of IDI during the second quarter worth approximately $112,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of IDI during the second quarter worth approximately $114,000. Bank of New York Mellon Corp purchased a new stake in shares of IDI during the second quarter worth approximately $131,000. California State Teachers Retirement System purchased a new stake in shares of IDI during the second quarter worth approximately $151,000. Finally, BlackRock Investment Management LLC boosted its stake in shares of IDI by 2,392.5% in the second quarter. BlackRock Investment Management LLC now owns 61,340 shares of the company’s stock worth $290,000 after buying an additional 58,879 shares during the period.
Several analysts have issued reports on IDI shares. Barrington Research started coverage on IDI in a research note on Tuesday, July 12th. They issued an “outperform” rating and a $7.00 price target on the stock. Zacks Investment Research raised IDI from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th.
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